IMMO S
ActiveSummary
IMMO S has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €44,083 and a net result of €1,709. Equity is growing by ~16.6% per year across the filed fiscal years. Its solvency ranks better than 36% of 19375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability41▼-33
Solvency40▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity short (current ratio 0.38 against 0.18 in 2023; short-term debt: 54.2% and cash: 18.9% of total assets), and 84.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
15.1%
Return on assets
0.6%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-10-2025, 64 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
64 d late
2023
9 d late
2022
34 d early
2021
24 d early
2020
13 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 6 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€44,083▲ 4.0%
2023 · €42,374
Total assets
€292,122▲ 39.8%
2023 · €208,925
Net result
€1,709▼ 79.5%
2023 · €8,332
Working capital
-€98,560▼ 60.2%
2023 · -€61,525
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€1,013-€2,578▲ 154%€12,403▲ 381%€10,685▼ 13.9%€9,087▼ 15.0%
Net result-€1,207within the sector's middle half-€431within the sector's middle half€9,818within the sector's middle half▲ 2,180%€8,332within the sector's middle half▼ 15.1%€1,709within the sector's middle half▼ 79.5%
Equity€23,793within the sector's middle half-€24,224within the sector's middle half▲ 1.8%€34,042within the sector's middle half▲ 40.5%€42,374within the sector's middle half▲ 24.5%€44,083within the sector's middle half▲ 4.0%
Total assets€140,822below the sector's middle half-€220,183within the sector's middle half▲ 56.4%€215,183within the sector's middle half▼ 2.3%€208,925within the sector's middle half▼ 2.9%€292,122within the sector's middle half▲ 39.8%
Debt€117,029-€195,959▲ 67.4%€181,141▼ 7.6%€166,551▼ 8.1%€248,039▲ 48.9%
Working capital-€38,400within the sector's middle half--€65,685within the sector's middle half▼ 71.1%-€65,448within the sector's middle half▲ 0.4%-€61,525within the sector's middle half▲ 6.0%-€98,560below the sector's middle half▼ 60.2%
Solvency16.9%within the sector's middle half-11.0%within the sector's middle half▼ 5.9pp15.8%within the sector's middle half▲ 4.8pp20.3%within the sector's middle half▲ 4.5pp15.1%within the sector's middle half▼ 5.2pp
Current ratio0.25below the sector's middle half-0.12below the sector's middle half▼ 0.130.12below the sector's middle half=0.18below the sector's middle half▲ 0.060.38within the sector's middle half▲ 0.20
Return on assets (ROA)-0.9%within the sector's middle half-0.2%within the sector's middle half▲ 1.1pp4.6%within the sector's middle half▲ 4.4pp4.0%within the sector's middle half▼ 0.6pp0.6%within the sector's middle half▼ 3.4pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 15% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €292,122
Fixed assets
€232,218 ▲ 18.7%
Current assets
€59,904 ▲ 350%
Equity and liabilities €292,122
Equity
€44,083 ▲ 4.0%
Debt
€248,039 ▲ 48.9%
Debt's share of the balance-sheet total rises from 79.7% to 84.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19,442▼
2023 · €21,138
Cash flow
€12,063▼
2023 · €18,785
Debt to equity
5.63▲
2023 · 3.93
ROE
3.9%▼
2023 · 19.7%
Interest coverage
2.63▼
2023 · 8.98
Debt ≤ 1 year
€158,464▲
2023 · €74,844
Debt > 1 year
€89,574▼
2023 · €90,980
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,273 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
2.1%
went bankrupt
2.5%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,273 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,472 | €6,438 | €10,108 | €10,453 | €10,354 | ▼ 0.9% |
| Other operating charges640/8 | - | €4,277 | €4,571 | €4,802 | €7,271 | ▲ 51.4% |
| Gross operating margin9900 | €13,126 | €13,292 | €27,082 | €25,940 | €26,713 | ▲ 3.0% |
| Operating profit (loss)9901 | €1,013 | €2,578 | €12,403 | €10,685 | €9,087 | ▼ 15.0% |
| Financial income75/76B | - | - | - | €0 | €1 | ▲ 1,900% |
| Recurring financial income75 | - | - | - | €0 | €1 | ▲ 1,900% |
| Financial charges65/66B | - | €2,147 | €2,585 | €2,353 | €7,379 | ▲ 214% |
| Recurring financial charges65 | €2,220 | €2,147 | €2,585 | €2,353 | €7,379 | ▲ 214% |
| Profit (loss) for the period before taxes9903 | -€1,207 | €431 | €9,818 | €8,332 | €1,709 | ▼ 79.5% |
| Profit (loss) for the period9904 | -€1,207 | €431 | €9,818 | €8,332 | €1,709 | ▼ 79.5% |
| Profit (loss) for the period to be appropriated9905 | -€1,207 | €431 | €9,818 | €8,332 | €1,709 | ▼ 79.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €140,822 | €220,183 | €215,183 | €208,925 | €292,122 | ▲ 39.8% |
| Fixed assets21/28 | €128,020 | €211,067 | €206,059 | €195,606 | €232,218 | ▲ 18.7% |
| Tangible fixed assets22/27 | €128,020 | €211,067 | €206,059 | €195,606 | €232,218 | ▲ 18.7% |
| Land and buildings22 | - | €123,575 | €119,129 | €114,684 | €156,787 | ▲ 36.7% |
| Plant, machinery and equipment23 | - | €79,084 | €79,940 | €75,352 | €70,763 | ▼ 6.1% |
| Furniture and vehicles24 | - | €8,409 | €6,989 | €5,570 | €4,668 | ▼ 16.2% |
| Current assets29/58 | €12,802 | €9,116 | €9,124 | €13,319 | €59,904 | ▲ 350% |
| Amounts receivable within one year40/41 | - | €3,540 | €3,550 | €3,650 | €4,750 | ▲ 30.1% |
| Trade receivables40 | - | €3,540 | €3,550 | €3,650 | €4,750 | ▲ 30.1% |
| Cash at bank and in hand54/58 | €12,385 | €5,140 | €5,012 | €9,068 | €55,075 | ▲ 507% |
| Deferred charges and accrued income490/1 | - | €436 | €562 | €602 | €79 | ▼ 86.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €140,822 | €220,183 | €215,183 | €208,925 | €292,122 | ▲ 39.8% |
| Equity10/15 | €23,793 | €24,224 | €34,042 | €42,374 | €44,083 | ▲ 4.0% |
| Contributions10/11 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Capital10 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Issued capital100 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | -€1,207 | -€776 | €9,042 | €17,374 | €19,083 | ▲ 9.8% |
| Amounts payable17/49 | €117,029 | €195,959 | €181,141 | €166,551 | €248,039 | ▲ 48.9% |
| Amounts payable after more than one year17 | €65,099 | €120,432 | €105,841 | €90,980 | €89,574 | ▼ 1.5% |
| Financial debts170/4 | - | €120,432 | €105,841 | €90,980 | €89,574 | ▼ 1.5% |
| Amounts payable within one year42/48 | €51,203 | €74,801 | €74,573 | €74,844 | €158,464 | ▲ 112% |
| Current portion of amounts payable after more than one year42 | - | €14,324 | €14,590 | €14,862 | €8,382 | ▼ 43.6% |
| Trade debts44 | €605 | €494 | - | - | - | - |
| Suppliers440/4 | - | €494 | - | - | - | - |
| Other amounts payable47/48 | - | €59,982 | €59,982 | €59,982 | €150,082 | ▲ 150% |
| Accrued charges and deferred income492/3 | - | €727 | €727 | €727 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,207 | €431 | €9,818 | €8,332 | €1,709 | ▼ 79.5% |
| + Depreciation and write-downs630 | €5,472 | €6,438 | €10,108 | €10,453 | €10,354 | ▼ 0.9% |
| Operating cash flow (approximation) | €4,265 | €6,868 | €19,926 | €18,785 | €12,063 | ▼ 35.8% |
| Investment in fixed assets (approximation) | - | -€89,485 | -€5,100 | €0 | -€46,966 | - |
| Change in cash | - | -€7,245 | -€128 | €4,056 | €46,008 | ▲ 1,034% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
03-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 64 days late
2024
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2020net €9,818 ▲2,180%
Operating result €12,403, net result €9,818, both a record.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €431
Net result €431 after one loss-making year.
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 13 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Châtelet
Ground area
1,298 m²
Building footprint
310 m²
Volume, LiDAR
1,620 m³
Parcel 52012B0038/00X002, Wallonia · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52012B0038/00X002 | Wallonia | 1,298 m² | 1 · 310 m² | 9.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. 4,917 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-05-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0726654714
Also
9925:BE0726654714
Registered
09-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.